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To: Victor Lazlo who wrote (106711)	7/29/2000 2:46:05 PM
From: Jan Crawley	Read Replies (2) \| Respond to of 164684

Hi Victor, I am sure that there are many players/ways; here is just one very-simple example: Janus owned 8.1M Yhoo shares on 9/30/99 with a Yhoo high of $80; Janus owned 5.5M Yhoo shares on 12/31/99 with Yhoo of over $200 for almost the entire month of 12/99. So Janus booked, "2.5M shares @$120 per share", $300M YHOO$. Janus owned zero Isld shares on 12/31/99 but almost 2M Isld shares on 3/31/00. Isld's share price was above $100 from 1/00 to 3/31/00. Isld dropped to $50 after 3/31/00 and is trading at 27 now. So Janus's loss is (min.) 2M shares@$50 per shares, that's a $100M. That's sorta Bill Harmond's style and his competitive advantage and his money. (not mine, not my competitive advantage and not my biz)